SKF India registers Sales of INR 5926 million in Q2 2014

2014 July 18, 17:40
IST

The Board of Directors of SKF India Limited, India's leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services, today approved the unaudited financial results for the second quarter and half year ended June 30th, 2014.

The financial highlights are as given below:

Net Sales for the second quarter ended June 2014 amounted to INR 5926 million registering a growth of 6% over the corresponding quarter of the previous year and 4% as compared to the immediately preceding quarter

The Profit before tax for the second quarter ended June 30 amounted to INR 819 million registering a growth of 19% over the corresponding quarter of the previous year and 9% over the immediately preceding quarter

Commenting on the occasion, Mr. Shishir Joshipura, Managing Director, SKF India said, "Demand side of economy continues to face challenges of high inflation, delayed monsoon and global uncertainty amidst a changing sentiment of better
future. Our focused efforts at improving operational efficiencies and forging deeper ties with our customers enabled us to deliver a steady performance, in a challenging business environment."

SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2013 were SEK 63,597 million and the number of employees was 48,801. www,skf.com
SKF Group started trading operations in India in Kolkata in 1923 and since then the Group's operations have been consolidated into SKF India Limited. SKF India also has an associate company called SKF Technologies (India) Pvt. Ltd providing Sealing Solutions and Industrial Bearings. The company has manufacturing plants in Pune, Bangalore, and Haridwar.
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